Trump tariff threat looms large on several Asian countries — not just China — says Goldman Sachs

Donald Trump’s victory in the U.S. elections has raised concerns about higher tariffs on China and other Asian countries, as deficits with other Asian exporters have risen significantly according to Goldman Sachs. South Korea, Taiwan, and Vietnam have seen large trade gains with the U.S., with South Korea’s trade surplus reaching a record $44.4 billion, Taiwan’s exports hitting a record high of $24.6 billion, and Vietnam’s trade surplus standing at $90 billion. Trump’s proposed tariffs are expected to impact more open economies in the region, with Taiwan particularly exposed. Despite potential tariffs, Goldman predicts continued pressure for supply chains to relocate from China to Southeast Asia, India, or Mexico.

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